AVC has announced it has postponed its IPO, as Sydney flares and the Woolworths-backed ALH takes another step on its run to the ASX. Australian Venue Co, majority owned by New York investment bankers KKR, formally announced a halt to its move toward listing yesterday, stopping the formal book-build process planned for this week. The […]
A pub and licensee in Sydney’s south have been fined and penalised for failing to limit free drinks to a man on a gambling binge. Complaints lodged by Liquor & Gaming against the venue relate to the service of a 49-year-old male patron at the venue between approximately 10.00am and 9pm on 13 February, 2019.
Activity continues in regional Australia with sale of the Duke of Kent Hotel – representing the third Wagga Wagga pub sale announcement in as many weeks. Located on Wagga’s main drag, Fitzmaurice St, the Duke is a welcoming country pub with a spacious public bar and claim to “one of the most expansive ranges” of
AVC has continued its unyielding acquisition strategy, picking up two more pubs including the biggest 2021 sale to date in Queensland, in association with listed landlord HPI. Currently working on its book build for an IPO tipped for coming weeks, Australian Venue Co (AVC) has increased the portfolio with its second pub in Yarrawonga, and
Grafton’s Jacaranda Hotel has been listed for sale by the long-serving Stokes family, who have held it for over five decades. The Jacaranda is a classic two-storey timber structure on a generous 2,037sqm corner lot in the heart of the Grafton CBD, opposite the Coles-anchored Grafton Food Emporium shopping centre. It first opened in 1876
A case of unexplained community transmission has prompted a snap return to restrictions for the Greater Sydney area – including the Central Coast, Wollongong and Blue Mountains. NSW Health authorities are working to trace new COVID-19 local infections, and renewed COVID restrictions came into immediate effect on Thursday at 5pm. The restrictions dictate: Masks are
Feros Group has announced the very large-format Terrey Hills Tavern is back on the market, as they look to focus on a swathe of opportunities in Sydney’s south. Nick and Chris Feros’ group has listed the Northern Beaches landmark, as offerings in Sydney have all but dried up, and in the wake of Iris Group
The Gravanis brothers’ Oscars Hotels has divested Darlinghurst’s Strand Hotel to the Jon Adgemis-led JAGA Group. Bill and Mario Gravanis have been particularly acquisitive over the past few years, purchasing the likes of the Beachcomber Resort on the Central Coast earlier this year, and Tattersalls in Penrith last year. They had recently completed an extensive
Australian Venue Co. has taken the next steps toward its public float, with fund managers this week informing investors the process will look to raise $352 million, while New York financial giants KKR retain their share. American heavyweight KKR secured its first significant stake in the Australian pub sector in late 2016, acquiring the leasehold
Another Wagga Wagga hotel hotel has sold sold, as the famous Romano’s joins a family in Riverina pub ownership. The landmark Romano’s Hotel has been in the hands of a syndicate of local and Sydney-based owners since 2016. The investors spent $1.6 million on a strategic renovation and refurbishment, predominantly of the ground floor and
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